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Jeff
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Re: Enemy Of Capitalism: Capitalists
Reply #20 - Nov 27th, 2018 at 3:58pm
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BobK71 wrote on Nov 27th, 2018 at 12:32pm:
The major problem is that inflation or deflation is basically controlled by the state, rather than the free market.
Technically, inflation is created by the Fed, and I'm certain they and other crony bankers benefit, but banks can be big losers too as you note. Unfortunately they get bailed out while the regular folk debtors lose their homes and businesses, often to the bailed out banks.

Behind it all is Congress... Unless you think the Fed is really independent?
  
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BobK71
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Re: Enemy Of Capitalism: Capitalists
Reply #21 - Nov 28th, 2018 at 10:37am
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Jeff wrote on Nov 27th, 2018 at 3:58pm:
Technically, inflation is created by the Fed, and I'm certain they and other crony bankers benefit, but banks can be big losers too as you note. Unfortunately they get bailed out while the regular folk debtors lose their homes and businesses, often to the bailed out banks.

Behind it all is Congress... Unless you think the Fed is really independent?


Central banks are sometimes technically private, and sometimes technically a part of the state.  It doesn't really matter.  Its role is to act as part of the state-bank alliance to control money and financial assets.

Bankers, including some high financiers, can be victims of a financial bust, yes.  During the Great Depression the Fed chose not to bail out banks, I suppose because it decided that the bankers' loss plus the severe economic pain for the country were a lesser threat to the system than the alternative.

Since we had the gold standard, the alternative would have been a default on gold (going to fiat money) or a big devaluation against gold.  The elites must have thought these were worse for the survival of the system than whatever social and political consequences were of letting people lose their jobs.

The fact that the entire problem was the making of the elites' system in the first place?  Why would THAT figure into the equation?
  
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SkyChief
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Re: Enemy Of Capitalism: Capitalists
Reply #22 - Nov 28th, 2018 at 11:20am
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Trump is very upset that General Motors is closing plants in the United States and warned that the White House was “now looking at cutting all GM subsidies.”

"The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including for electric cars."

Well, Prez Trump, let this be a "learning moment" for you,

The government shouldn't be picking winners and losers in a free marketplace! 

Yes - by all means - stop the subsidies to GM!   But stop subsidies to all other auto manufacturers, too.

Smiley
  
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Jeff
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Re: Enemy Of Capitalism: Capitalists
Reply #23 - Nov 28th, 2018 at 4:30pm
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BobK71 wrote on Nov 28th, 2018 at 10:37am:
Central banks are sometimes technically private, and sometimes technically a part of the state.  It doesn't really matter.  Its role is to act as part of the state-bank alliance to control money and financial assets.

Bankers, including some high financiers, can be victims of a financial bust, yes.  During the Great Depression the Fed chose not to bail out banks, I suppose because it decided that the bankers' loss plus the severe economic pain for the country were a lesser threat to the system than the alternative.

Since we had the gold standard, the alternative would have been a default on gold (going to fiat money) or a big devaluation against gold.  The elites must have thought these were worse for the survival of the system than whatever social and political consequences were of letting people lose their jobs.

The fact that the entire problem was the making of the elites' system in the first place?  Why would THAT figure into the equation?
What FDR did was confiscate gold.

The role of a central bank is whatever the government says it is. It can be a lender of last resort, forced to loan money to the government when no one else will, or it can be something like the Fed.
  
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Jeff
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Re: Enemy Of Capitalism: Capitalists
Reply #24 - Nov 29th, 2018 at 8:52am
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SkyChief
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Re: Enemy Of Capitalism: Capitalists
Reply #25 - Nov 29th, 2018 at 10:47am
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"Bullies are weak.  Soros hides behind the venal and the vane.  He’s never built anything of value, only won a rigged version of a zero-sum game, i.e. currency trading."

Luongo doesn't like Soros.  Probably not many people do. 

Who likes a bully?
  
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The Opposition
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Re: Enemy Of Capitalism: Capitalists
Reply #26 - Nov 29th, 2018 at 11:16am
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SkyChief wrote on Nov 29th, 2018 at 10:47am:
"Bullies are weak.  Soros hides behind the venal and the vane.  He’s never built anything of value, only won a rigged version of a zero-sum game, i.e. currency trading."

Luongo doesn't like Soros.  Probably not many people do. 

Who likes a bully?


I don't like Soros either. The trouble is, I can separate my innate emotional prejudice from a clear assessment.

Soros is a hero. He's a protector of human rights around the world, and anything he destroys, he destroys without committing aggression. The governments, not Soros, commit aggression.

Producing value is antiquated. If there is more to be earned from destruction, then the logical choice is to destroy. It ought to be lauded, if it was done without aggression.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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Jeff
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Re: Enemy Of Capitalism: Capitalists
Reply #27 - Nov 29th, 2018 at 3:56pm
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The Opposition wrote on Nov 29th, 2018 at 11:16am:
Soros is a hero. He's a protector of human rights around the world, and anything he destroys, he destroys without committing aggression. The governments, not Soros, commit aggression.

Producing value is antiquated. If there is more to be earned from destruction, then the logical choice is to destroy. It ought to be lauded, if it was done without aggression.
This is low quality stuff lizard. Cry
  
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Jeff
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Re: Enemy Of Capitalism: Capitalists
Reply #28 - Dec 5th, 2018 at 8:37am
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